EddieJayonCrypto
31 May 22
• Already deep into NFTs, DraftKings has plans on accepting crypto in the future• LUNA is said to be mismanaging their airdrop• South Korea is reacting pretty quickly with the formation of a crypto regulatory agency• Don't sleep on the possible impact of the upcoming Ethereum merge• Singapore is abo...
• Already deep into NFTs, DraftKings has plans on accepting crypto in the future• LUNA is said to be mismanaging their airdrop• South Korea is reacting pretty quickly with the formation of a crypto regulatory agency• Don't sleep on the possible impact of the upcoming Ethereum merge• Singapore is about to step up its crypto game with DeFiI am seeing more and more groundwork being done. Here is what is on my mind today.1. Let's not get things twisted. DraftKings is already deep into the Web3 space with the release of their NFT marketplace. The publicly-listed company has plans on accepting crypto in the future. International companies have many more issues to contend with. So any move toward accepting digital assets as payment is a serious step, this is becomes even more complex when the company in question is a public one. 2. Amazingly, Terra that has experienced a massive 99% drop in their stablecoin, LUNA, is said to be mismanaging their makeup airdrop. Shocker there. Then, on top of that, I hear Do Kwon is planning another stablecoin to run on Terra LUNA 2.0. I just can't defend them. Wow! 3. Meanwhile, South Korea is reacting pretty quickly with the formation of a crypto regulatory agency. Dubbed he Digital Assets Committee, it will be launched early next month (I am taking that to mean July and not June). The agency is to work separately from the Financial Services Committee and the Financial Supervisory Service. This may be in response to the LUNA crash, but they seem to be moving at a faster clip than usual if you look at all of the governments around the world. The new committee will be tasked with creating a framework for digital assets. 4. Don't sleep on the possible impact of the upcoming Ethereum merge will have on other altcoins. This could be the first time a major event happens that doesn't involve Bitcoin as the catalyst. The merge should introduce lower fees and, more importantly, have a far less impact on the environment. 5. Singapore is about to step up its crypto game! According to Bloomberg, Singapore is exploring DeFi applications in the wholesale funding markets. The effort is being led by the their largest bank DBS Bank working with JPMorgan Chase and Marketnode, a crypto venture specializing in capital markets.